Wells Buys North Carolina Office Building for $78 Million

The Wells REIT II has bought a 431,000 sq. ft. office building in Winston-Salem, N.C., for about $78 million, according to industry sources. The Class-A office building — One West Fourth Street — is 92% occupied. Wachovia leases 46% of the office space in the building, and law firm Womble, Carlyle, Sandridge & Rice occupies an additional 40%.